Friday, June 14, 2024

Nvidia to Soon Surpass Apple to Becomes World’s Second Most Valuable company

Nvidia is close to overtaking Apple as the world’s second-most valuable company. Nvidia’s stock has nearly tripled in value, reaching $2.68 trillion, thanks to strong demand for its advanced chips.

Meanwhile, Apple, currently valued at $2.92 trillion, is dealing with weak demand for its iPhones and tough competition in China. These challenges have slowed Apple’s growth compared to Nvidia’s rapid rise.

Nvidia’s impressive growth is fueled by its success in gaming, cryptocurrency, and artificial intelligence (AI). This growth has contributed to U.S. stocks hitting record highs. Remarkably, Nvidia reached a market value of $1 trillion and then $2 trillion faster than tech giants Amazon and Google did.

Options traders are optimistic about Nvidia’s future, betting that the company’s stock will continue to rise. This positive outlook reflects confidence in Nvidia’s ongoing success and its ability to maintain its rapid growth.

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